Micro-loan program

Helping small businesses and nonprofits during the COVID-19 crisis.

The Greater Portland Council of Government is launching a Rapid Response Micro-loan Program to suppt the region’s small businesses and nonprofits that need working capital amidst the COVID-19 crisis.

The agency has committed to lending as much $250,000 to businesses in the region through the new program. The loans will supplement existing state and federal small business lending programs offered through the Small Business Administration and the Finance Authority of Maine.

GPCOG’s micro-loan program was created in coordination with the City of Portland, which has developed a similar program. GPCOG’s program will primarily support businesses located in communities outside the city.

Program Overview

  • Uses of Loan Funds:  Rent, utilities, inventory and payroll, (Working capital)
  • Loans up to $ 10,000 per business: No application fee; Commitment fee: 0.5%
  • Community Resilience: Participating businesses may be eligible for up to 25% of forgiveness if businesses meet certain requirements or participate in other GPCOG initiatives.
  • Interest Rate and Term: 0% interest rate through the first 2 years. After 2 years, the interest rate will be 2% with a maximum 5 year term for repayment. Loan payments begin 6 months after closing the loan. Commitment Fee of 0.5%.


  • Located in any of GPCOG's member municipalities. A map of these communities can be found here.
  • Demonstrate other federal and state emergency loan program assistance is not available to the company.
  • PORTLAND BUSINESSES: Prior to applying for the GPCOG Micro Loan Program please contact the City of Portland’s Loan Program via Nelle Hanig: nrh@portlandmaine.gov.

Submit an application

Businesses and nonprofits can apply for the GPCOG’s micro-loan program by downloading an application and returning it to GPCOG.

Download application

Overview of the Rapid Response Micro-loan Program (PDF)

Download personal finance statement (PDF)

Applicants can send questions to microloans@gpcog.org